Research and Development Tax Credit

Stephen O'Brien: To ask the Chancellor of the Exchequer 
	(1)  what the qualifying research and development expenditure threshold for the research and development tax credits system was in each year since 2000;
	(2)  for what reasons the qualifying research and development expenditure threshold for the research and development tax credits system was lowered from £25,000 to £10,000; and if he will make a statement.

Angela Eagle: The reduction in the minimum qualifying expenditure threshold for the R and D tax credit schemes from £250,000 to £10,000 was introduced in the Finance Act 2003. This was part of a package of improvements designed, after consultation with business, to improve the operation of the schemes and to make it easier for SMEs in particular to access the credits.